Amazon buys Gilroy Farmland for 4x the value | Bay Area Real Estate Market Update August 21, 2020

Every week, I go over news that can affect Bay Area Real Estate. I look into news and data that can affect the Silicon Valley Real Estate Market. Tune in weekly and ask me anything! Amazon buys Gilroy Farmland for 4 times the value https://www.mercurynews.com/2020/08/18/amazon-unit-buys-big-chunks-gilroy-farmland-real-estate/?utm_medium=social&utm_campaign=socialflow&utm_source=facebook.com&utm_content=fb-mercurynews Average US rates rise slightly to 2.99% https://www.housingwire.com/articles/u-s-mortgage-rates-rise-on-risk-assessment/ Mortgage applications fall 3.3% as interest rates rise https://www.housingwire.com/articles/mortgage-applications-fall-3-3-as-interest-rates-rise/ Housing starts report confirms housing market recovery. V-shaped is no longer a question https://www.housingwire.com/articles/housing-starts-report-confirms-housing-market-recovery/ Forbearance rate drops below 5%, lowest since mid-April https://www.housingwire.com/articles/fannie-mae-freddie-mac-forbearance-rate-drops-below-5/ Mid-August rent payments tick up to near-normal levels https://www.housingwire.com/articles/mid-august-rent-payments-tick-up-to-near-normal-levels/ Latest Market Data for all counties in the Bay Area https://docs.google.com/spreadsheets/d/1P5T3T4doU9vutLotcKnZ0WCZahU0nvKn1khR-QQsrTI/edit?usp=sharing 

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Born and raised in the Bay Area, I spent 11 years as an Enterprise Sales Manager before becoming the Tech Realtor of the Bay Area. Having the background as a homeowner, investor, and renovator, I leverage data and insights to help my clients gain a competitive advantage with their real estate journey. Communication and knowledge is key so as long as I'm awake, you will get a reply from me! I have helped 31 families YTD for over $40MM in delighted transactions and I look forward to help you too.

Spencer Hsu, MBA Tech Realtor 
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EXP Realty DRE #02077253 
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